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20121227
20121227
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'm jim axelrod. a lot of holiday plans are out the window tonight due to a powerful storm system that stranded travelers on highways and at airports. it's blamed in at least six deaths. in the south, there are reports that 41 tornadoes have touched down since yesterday. one of them sheered off the front of the trinity episcopal church in mobile, alabama. luckily, no one was injured. the same system brought a blizzard to parts of the midwest, forcing the cancellation of more than 1,400 flights. tonight, it's headed to the northeast. winter storm warnings have already been posted. troy kehoe of our cbs station in indianapolis begins our coverage. troy? >> reporter: well, jim, here in bloomington, indiana, we've already seen 11.5 inches of snow so far, and it is still coming down with blizzard conditions here in the midwest. this has been a two-day storm leaving much of the country paralyzed. blinding snow with wind gusts topping 35 miles an hour have created whiteout conditions in the plains in midwest. by midday, a half-foot of snow had already fallen in indianapolis. george cumm
outbreak. >> that was the weather channel's jim cantore right there and mike seidel reporting. in a few minutes, we'll have the forecast on where the storm is headed today. that's just ahead in weather. >>> but right now, unfortunately, we turn to politics. as if tax hikes and spending cuts weren't enough, there's a new reminder that the nation's debt ceiling is also hanging over the budget talks in washington. in a letter to congress yesterday, treasury secretary timothy geithner warned the government would hit its legal borrowing limit by monday. without the okay to borrow more, geithner says the treasury will be forced to take "extraordinary measures" to keep paying the bills. so, that makes the government like the rest of us. he also referenced the impending fiscal cliff, which threatens to derail the economy if a compromise isn't be reached by next week on those big, unanswered issues. with both sides locked in a standoff, house republicans are calling on senate democrats to act first. democrats aren't budging much on their demands. they want to extend tax cuts on incomes below $25
. jim frederick, thanks for joining us tonight. >>> up next, an attempted coup if you will. to derail a movement off the tracks. although i think they have a lot of influence. look at the cliff. the tea party will not act to keep the government going. this is "hardball," the place for politics. >>> still no word on who may i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection, and because usaa's commitment to serve the military, veterans and their families is without equal. begin your legacy, get an auto insurance quote. usaa. we know what it means to serve. aww man. [ male announcer ] returns are easy with free pickup from the u.s. postal service. we'll even drop off boxes if you need them. visit usps.com pay, print, and have it picked up for free. any time of year. ♪ nice sweater. thank you. ♪ >>> still no word on who may inherit john kerry's senate seat now that he's been nominated for secretary of state. we know who won't. ted kennedy jr. says he won't run for the massachusetts seat be
to get up to 1600 once again and i look for it to go higher. >> jim, the house reconvenes sunday night. the senate squabbling right now. the president's back in town. how are you trading or investing in this market in the meantime? >> well, bill, i thought it was difficult to underestimate the ability for congress to underdeliver. but here we are again. >> yes. >> our best case is, we probably thought it was going to go into the, go past the new year and i think that's what we're going to see. so, we'll probably tech nick little go over the cliff but we won't stay over and it's probably maybe even better off that we get a new congress looking at the prospects of a deal. there is a deal out there as opposed to the lame duck session. we'll probably have some volatile till but i think those are buying opportunities and we expect a better 2013. >> what kind of buying opportunities? what would you be looking to buy? >> well, certainly the sectors that have done well, i think, continue to be the financials. you look at consumer discretionary in here, which could take a hit and a down turn. n
. that is the u lis cease arguments, tying themselves to the mast. one of the more conservative republicans, jim jordan, told me the only thing worst than defense cuts are no cuts at all. that said, you can delay the impact of see questions administrati -- see quest administration. it will take them time to come up with the cuts over the course of the fiscal year. that said -- because we never passed the budget but only continuing resolution, we've only got until about march to figure out how to deal with that problem. >> you better believe that there are a lot of democrats in states like california, virginia, florida, in the senate and the house who don't want to see those defense cuts either because, boy, those are big employers. let me grill on one thing and that is this, tax rates are scheduled to go up anyway next year because of surcharges on medicare and a payroll tax surcharge because of obama care, am i right on that? >> you're right. if you look at it, incomes are really going to go back to where they were during the meltdown. the american economy will not have moved forward for many h
. people watching closely remember mitt romney and jim messina tweeting condolences and the obama campaign shut down for the day when alex died. what was meaningful was it's unfathomable. he was of the age that swept obama into power. not politically silent, but somewhat motionless and actually came out in full force and helped create this identity and they were as much a part of it that they supported and it just seems profoundly unfair that he didn't make it to see at least the end of the 2012 election cycle. >> talk about the process of how newtown changed the complexion's content of the list. >> we added essentially a second cover to this issue. we use that to acknowledge the victims of newtown. to point out that this is a celebration of life. there is no way to express the horror and the that occurred in that tragedy. our decision to acknowledge newtown in a context that we gave it was simply the only meaning we can scribe to at this moment. we have meaning for decades and decades beyond that. this may impact obama's term, we don't know yet. we have to do it in the best way we could a
Search Results 0 to 5 of about 6